JPMorgan Chase & Co. cut its stake in Norfolk Southern Corp. (NYSE:NSC) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,956,051 shares of the railroad operator’s stock after selling 78,293 shares during the period. JPMorgan Chase & Co.’s holdings in Norfolk Southern Corp. were worth $189,855,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NSC. WealthTrust Arizona LLC increased its position in Norfolk Southern Corp. by 0.9% in the third quarter. WealthTrust Arizona LLC now owns 1,100 shares of the railroad operator’s stock valued at $107,000 after buying an additional 10 shares during the period. QCI Asset Management Inc. NY increased its position in Norfolk Southern Corp. by 0.5% in the third quarter. QCI Asset Management Inc. NY now owns 1,152 shares of the railroad operator’s stock valued at $112,000 after buying an additional 6 shares during the period. Financial Architects Inc increased its position in Norfolk Southern Corp. by 18.9% in the third quarter. Financial Architects Inc now owns 1,326 shares of the railroad operator’s stock valued at $129,000 after buying an additional 211 shares during the period. Cornerstone Advisors Inc. increased its position in Norfolk Southern Corp. by 15.5% in the third quarter. Cornerstone Advisors Inc. now owns 1,357 shares of the railroad operator’s stock valued at $132,000 after buying an additional 182 shares during the period. Finally, Zions Bancorporation increased its position in Norfolk Southern Corp. by 90.4% in the second quarter. Zions Bancorporation now owns 1,369 shares of the railroad operator’s stock valued at $116,000 after buying an additional 650 shares during the period. 67.93% of the stock is currently owned by institutional investors.

Shares of Norfolk Southern Corp. (NYSE:NSC) opened at 106.46 on Thursday. Norfolk Southern Corp. has a one year low of $64.51 and a one year high of $107.32. The company has a market cap of $31.08 billion, a price-to-earnings ratio of 19.71 and a beta of 1.13. The firm has a 50-day moving average of $97.01 and a 200 day moving average of $91.07.

Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 26th. The railroad operator reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. The company earned $2.52 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Norfolk Southern Corp. had a net margin of 16.27% and a return on equity of 13.15%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the business earned $1.49 EPS. Equities research analysts anticipate that Norfolk Southern Corp. will post $5.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Stockholders of record on Friday, November 4th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $2.36 annualized dividend and a dividend yield of 2.22%. Norfolk Southern Corp.’s dividend payout ratio is currently 43.70%.

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Several research analysts have recently weighed in on NSC shares. Argus reissued a “buy” rating on shares of Norfolk Southern Corp. in a research report on Wednesday, August 3rd. Bank of America Corp. raised shares of Norfolk Southern Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $97.00 to $110.00 in a research report on Tuesday, October 11th. Zacks Investment Research raised shares of Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Friday, October 7th. Seaport Global Securities started coverage on shares of Norfolk Southern Corp. in a research report on Friday, October 28th. They issued a “buy” rating and a $101.00 target price on the stock. Finally, Deutsche Bank AG started coverage on shares of Norfolk Southern Corp. in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $92.65.

In related news, VP Thomas E. Hurlbut sold 469 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $103.77, for a total value of $48,668.13. Following the completion of the transaction, the vice president now directly owns 7,041 shares of the company’s stock, valued at $730,644.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Hurlbut sold 2,170 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $91.21, for a total transaction of $197,925.70. Following the completion of the transaction, the vice president now directly owns 8,560 shares of the company’s stock, valued at $780,757.60. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Norfolk Southern Corp. Company Profile

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

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